Thursday 28 Mar 2024
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KUALA LUMPUR (Oct 19): The most active stock on the local stock exchange today, Hubline Bhd, whose share price has surged some 143% in the past 30 days, has been issued an unusual market query by Bursa Malaysia. 
 
In a stock exchange filing today, the regulator drew attention to the "sharp rise in price and volume" of the company's shares recently.
 
Bursa requested the company to state whether there was any corporate development relating to its group's business and affairs that had not been previously announced that may account for the trading activity, including those in the stage of negotiation or discussion.
 
Hubline's share price, which has been range-bound between 6 sen and 7 sen since mid-May, suddenly jumped to its current price of 16.5 sen, from 6 sen on Sept 15. 

Actively traded in the past one month, the stock saw a record high volume of 219.63 million shares transacted on Sept 27.
 
Hubline is involved in investment holding, shipping services, shipping agent, ship owning and chartering.
 
Trading at 16.5 sen as at 3.41pm, Hubline shares were down 0.05 sen or 2.94% from yesterday's close, after 124.99 million shares were traded for a market capitalisation of RM276.55 million.

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